Key Highlights

• Standard Chartered predicts Avalanche could surpass Bitcoin by the end of 2029.
• Bitcoin's significant price zone of $65k-$71k is highlighted as crucial for long-term investors.
• JPMorgan issues a stark warning as Bitcoin price plunges, while a potential drop below $60k is flagged amid new tariff policies.
• Despite market turbulence, bullish sentiment persists with predictions of Bitcoin hitting $200k by 2025.
• Significant shifts in the market as Genius Group is forced to liquidate Bitcoin holdings and Cango pivots entirely to Bitcoin mining.

Market Sentiment

• Trend: Volatile, with a heavy influence from geopolitical tensions and regulatory actions.
• Bearish Factors: Recent price drops and 'death cross' patterns suggest potential further declines.
• Bullish Counters: Institutional interest remains high, as evidenced by Alabama's Bitcoin Reserve Bill and major ETF issuers buying Bitcoin.

Bitcoin Forecast

Despite immediate bearish patterns and market reactions to Trump's tariffs, analysts maintain a long-term bullish outlook, with targets still set around $200,000 by 2025. Short-term, Bitcoin might test lower supports around $68,000, but key indicators and whale accumulations suggest potential rebounds.

Key Events to Watch

• Impact of Trump's new tariff policies on global markets and Bitcoin.
• Legislative developments, such as the Bitcoin Reserve Bill in Alabama.
• Technological and market responses to Bitcoin and cryptocurrency staking protocols and token airdrops.

Trading Insights

Traders should monitor the $65k-$71k support zone closely, as breaches here could dictate the market’s direction in the short term. Opportunities may arise from oversold bounces, especially if Bitcoin approaches the lower $60k range. Institutional activities and large BTC purchases should also be watched as indicators of underlying strength.

Top 3 Impact Stories

• JPMorgan's dire warning and the immediate plunge in Bitcoin's price.
• Genius Group's forced liquidation of Bitcoin holdings due to legal pressures.
• Cango's strategic pivot from its legacy business to full-scale Bitcoin mining.

Main Conclusion

While short-term volatility is influenced by geopolitical and regulatory news, the underlying sentiment among institutional investors and long-term analysts remains bullish. Traders should stay alert to key support zones and legislative developments that could impact market dynamics significantly.